One of the biggest areas of confusion in bankruptcy is reaffirmation agreements. The reason for this confusion is that these contracts and the rules around them can be, well, confusing! Basically, once you file for bankruptcy, the contract you had with your creditor to repay them was cancelled, eliminating your contractual liability. However, if you were paying for a secured item under that contract and you want to keep that item, you may need to sign a new contract, a reaffirmation agreement, to continue making these payments.
Sometimes though, this is not in your best interest. At Columbia River Law Group, you will work with a qualified attorney to determine whether a reaffirmation agreement is in your best interest.